Saturday, February 20, 2021

Bob Stupak, Vegas World and the Stratosphere



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Today, Bob Stupak is considered just another colorful character in the history Las Vegas and properly credited as the visionary behind Stratosphere.  His tacky taste, public antics and wacky persona are all just part of his legend.  The truth is, Bob embodies everything negative you've ever been warned about gambling and the industry.  He didn't want to just take your money, he wanted to make you look foolish while he did it.  His nickname might as well have been "fine print Stupak” because just about everything he did had a catch to it or a technicality he hoped you would miss so he could exploit.  He preyed on those that didn't know better.  But what's wrong with that?  Most people know there is a mathematically proven way to play some games and yet willfully choose to ignore them in favor of strategies that increase the odds already stacked against them.  Some people believe the earth is flat.  The fact is we all have access to the same information, especially in the Internet age.  The only disadvantage one person has over another is self-imposed.  An intellectual isn't discourage from using their acquired knowledge so why is gambling any different?  Morality, you say?  Well, as Canada Bill Jones said, it's immoral to let a sucker keep his money.  I’m pretty sure Bob just thought it was fun.

If you're interested in learning more about Bob Stupak, check out No Limit: The Rise and Fall of Bob Stupak and the Stratosphere

Saturday, January 23, 2021

The Great Consolidation of Las Vegas




Since the creation of modern day Las Vegas, there have always been people lamenting the good ole days, whatever that means to that individual at the time. Determining what is considered “good” is about as subjective as subjective can be.  Most people today will point to the time before the strip was primarily owned by 2 companies, MGM Resorts and Caesars Entertainment.  While the benefits of consolidation are obvious, potentially the best thing about it is the story of how it all happened.  To do that, we are going to have to trace back to how these assets exchanged hands before finally ending up in the corporate portfolio that are currently a part of.  To keep the story clean and the timeline defined, we are only going to focus on the majority owners and only their moves in Las Vegas.  We’re calling this, the Great Consolidation of Las Vegas